Middle East Tensions Eased Amid Alternative Supply Routes

Oil prices have fallen by about 1% for the third consecutive session on Friday, but remain above $100 per barrel. The decline came despite ongoing tensions in the Middle East, including strikes involving Saudi Arabia and Yemen's Houthis.

Market participants are weighing the possibility of further conflict against indications that crude supplies can continue reaching global buyers through alternative channels. Recent concerns over supply disruptions had pushed prices higher, but reports of alternative transportation routes for Middle Eastern oil have reduced fears of a broader shortage.

The Middle East remains a crucial source of global oil supplies, and any prolonged disruption to production or shipping routes could significantly influence prices. US President Donald Trump's comments on possible talks with Iran have also influenced market expectations.